Positive Gold Looking For Confirmations

Gold prices were about to touch the first target at 1740, few points shy from the second target 1747, to set its highest level during the previous trading sessionn at 1745.

Technically speaking, with the intraday trading remaining above 1728, accompanied by the positive stimulus of the 50-day moving average, which is accompanied by the positivity of the strength indicator.

This encourages us to maintain outlook, knowing that confirming the breach of 1747 is a prerequisite for the continuation of the rally towards 1754 levels, and the gains may later test 1764, 50.0% retracement.

Breaking 1728 and stabilizing below it delays the bullish chances, and we are witnessing a bearish path, the initial target of which lies around 1718 and 1710, the next official stop.

Note: Stochastic is trading around overbought areas and is trying to eliminate the current negativity.

S1: 1728.00	R1: 1746.00
S2: 1718.00	R2: 1754.00
S3: 1710.00	R3: 1764.00